Urban flight, job losses will hurt apartment REITs: Report

Apartment real estate investment trusts that are heavily invested in older multifamily properties and residential complexes in gateway cities are likely to see net income fall through next year. According to a new Fitch Ratings report, the REITs are becoming increasingly vulnerable to drops in cash flow because of job losses among lower-income tenants and on the opposite end, tenants leaving big cities for markets that offer more space. Lower-income workers comprise a large share

source https://therealdeal.com/2020/10/27/urban-flight-job-losses-will-hurt-apartment-reits-report/